Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Bond topic
No spam. Unsubscribe anytime.
Marquette board ratifies 2026 bond actions; bond sale paperwork in record
Summary
The board adopted a bond ratifying resolution and related bond‑sale documents June 22. Records attached to the minutes show Series I bonds issued with par $28,130,000 and purchase price $29,999,965.82; board vote was unanimous.
The Marquette Area Public Schools Board adopted a bond ratifying resolution Monday evening, ratifying the district’s 2026 bond issuance and placing related documents in the record.
Superintendent Zack Sedgwick provided a brief explanation before the vote. The formal record includes the bond resolution and a Bond Purchase Agreement. The bond documents in the record describe 2026 School Building and Site Bonds, Series I, with aggregate principal of $28,130,000; an original issue premium of $1,925,366.90; an underwriters’ discount of $55,401.08; and a purchase price of $29,999,965.82.
The board’s motion to adopt the Bond Ratifying Resolution was made by Jennifer Ray and seconded by Eric Smith and carried 7‑0. The meeting packet and attached exhibits list the bonds’ dated date (June 30, 2026), scheduled maturities through 2054, and optional and mandatory redemption provisions described in the bond documents.
The ratification gives district staff and counsel authority to finalize closing documents and proceed with issuance under the terms outlined in the Board’s resolution and the bond purchase documents on file.
Motion to adopt the Bond Ratifying Resolution: "A Motion to adopt the Bond Ratifying Resolution was made by Jennifer Ray and seconded by Eric Smith. Motion carried, 7-0."
